The Qatar Stock Exchange on Wednesday gained for the second straight session, adding 163 points to its key index and QR6bn in capitalisation.
The foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index gained 1.26% to 13,020.32 points, recovering from an intraday low 12,860 points.
The domestic funds’ weakened net selling pressure had its influence in the market, whose year-to-date gains improved further to 11.99%.
About 78% of the traded constituents extended gains in the bourse, whose capitalisation added QR6bn or 0.82% to QR734.8bn, mainly on the back of midcap segments.
The local retail investors were seen increasingly net sellers in the market, where the industrials and consumer goods sectors together accounted for more than 62% of the trading volume.
The foreign individuals were bearish in the bourse, which saw a total of 75,230 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.91mn changed hands across 21 deals.
The Gulf institutions turned net profit takers in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills.
The Total Return Index shot up 1.26% to 26,669.85points, All Share Index by 0.93% to 4,185.41 points and Al Rayan Islamic Index (Price) by 1.24% to 2,787.44 points.
The consumer goods and services sector index zoomed 1.55%, transport (1.22%), industrials (1.09%), insurance (0.93%), banks and financial services (0.85%) and real estate (0.58%); while telecom declined 0.25%.
Major gainers in the main market included Qatar General Insurance and Reinsurance, Inma Holding, QIIB, Salam International Investment, Al Khaleej Takaful, Qatar Islamic Bank, Doha Bank, Woqod, Mannai Corporation, Baladna, Qamco, Mesaieed Petrochemical Holding, Ezdan and Milaha.
Nevertheless, QLM, Qatar National Cement, Qatar Islamic Insurance, Al Meera and QNB were among the losers in the main market. In the venture market, Mekdam Holding saw its shares depreciate in value.
The domestic funds’ net profit booking decreased considerably to QR73.33mn compared to QR202.41mn on May 17.
However, Qatari individuals’ net selling increased substantially to QR63.56mn against to QR1.8mn the previous day.
The Gulf institutions were net sellers to the tune of QR11.58mn compared with net buyers of QR9.22mn on Tuesday.
The foreign individuals turned net sellers to the extent of QR4.05mn against net buyers of QR1.98mn on May 17.
The Gulf individuals’ net profit booking grew markedly to QR2.42mn compared to QR0.14mn the previous day.
The Arab individuals were net sellers to the extent of QR1.95mn against net buyers of QR4.84mn on Tuesday.
The foreign institutions’ net buying weakened noticeably to QR156.9mn compared to QR188.31mn on May 17.
The Arab funds continued to have no major net exposure for the second straight session.
Total trade volume in the main market rose 50% to 243.87mn shares and value by 7% to QR886.54mn, while transactions fell 11% to 25,409.
The consumer goods and services sector’s trade volume more than doubled to 81.77mn equities and value soared 75% to QR133.09mn, whereas deals were down 2% to 2,557.
The market witnessed 64% surge in the industrials sector’s trade volume to 69.66mn stocks, 39% in value to QR217.64mn and 19% in transactions to 4,959.
The real estate sector’s trade volume zoomed 49% to 19.13mn shares, value by 52% to QR23.56mn and deals by 25% to 808.
The market witnessed 32% expansion in the insurance sector’s trade volume to 5.94mn equities, 37% in value to QR16.54mn and 77% in transactions to 599.
The banks and financial services sector’s trade volume was up 12% to 59.58mn stocks, whereas value shrank 11% to QR465.3mn and deals by 18% to 14,877.
There was a 3% jump in the transport sector’s trade volume to 3.81mn shares, 20% in value to QR16.47mn and 4% in transactions to 879.
However, the telecom sector’s trade volume plummeted 46% to 4mn equities, value by 61% to QR13.94mn and deals by 61% to 730.
The venture market reported 56.52% contraction in trade volumes to 0.1mn stocks, 55.19% in value to QR0.69mn and 75.59% in transactions to 31.